Hong Kong-based payments fintech RedotPay has raised $107 million in Series B funding as it expands stablecoin-powered payments in more than 100 countries, betting that blockchain can compete directly with traditional cross-border finance.
RedotPay said in a press release that the oversubscribed round was led by Goodwater Capital, with participation from Pantera Capital, Blockchain Capital and Circle Ventures, bringing the total funds raised by RedotPay in 2025 to $194 million.
RedotPay said that as the adoption of stablecoins in payments and remittances accelerates, the company currently serves more than 6 million users globally, processes more than $10 billion in annual payment volume, and generates more than $150 million in annualized revenue.
Earlier this year, RedotPay entered unicorn status after closing a $47 million funding round with support from Coinbase Ventures, Galaxy and Vertex.
Founded in 2023, RedotPay provides stablecoin-based cards, wallets and payment services aimed at reducing the cost and settlement time of cross-border payments, especially in emerging markets. The company said payment volume will nearly triple year-on-year by 2025, with more than 3 million new users joining the platform as of November.
The funding comes as competition intensifies between stablecoin issuers and payments companies seeking to access remittances and daily spending. Redot Pay said it will use part of the proceeds from the round to expand its geographic coverage.
Earlier this year, RedotPay used Circle’s payment network in Brazil to enable crypto-to-fiat transfers directly to users’ bank accounts, automatically converting stablecoins into local currencies and bypassing traditional correspondent banking tracks.
